Visa and Square Award $200,000 to Small Business Owners

SAN FRANCISCO, CA--(Marketwire - Feb 7, 2013) - Square, the company making commerce easy for everyone, announced the 20 winners of the Square Wallet Challenge presented by Visa Inc. ( NYSE : V ). The contest was open to all Square businesses across the U.S. and was designed to support small business growth. The winning Square businesses will be awarded $10,000 each for winning the challenge.

Contest participants earned points based on the number of Square Wallet transactions routed through their account. The businesses that earned the most points each received four $250 Visa gift cards to distribute to their employees, in addition to the cash award. Contest winners included a variety of businesses from food trucks to retail shops.

"There are so many incredible growing businesses and we're committed to supporting them. With Square, we want to make it easier than ever for business owners to focus on doing what they love," said Chuck Kimble, head of Strategic Partnerships at Square.

"We are proud to recognize the small business winners of the Square Wallet Challenge and provide them with resources to help them grow and succeed," said Janet Zablock, head of global small business at Visa Inc. "This Challenge brings awareness to the benefits of accepting electronic forms of payment and helps business owners attract new customers and build loyalty with current customers -- all with the confidence in the safety of the transaction."

Sellers across the country use Square Register to run their businesses, and their customers use Square Wallet to pay with their phones. Square Register is a free point-of-sale application for iPhone, iPad and Android devices. Square Wallet is an application for customers that enable them to find neighborhood businesses and pay using only their phone. Through these products, Square connects buyers and sellers.

Café Grumpy in NYC uses Square to accept Square Wallet at their 4 locations in Manhattan and Brooklyn. "Square Wallet is the easiest way for our customers to pay and makes our line go much faster," said Caroline Bell of Café Grumpy. "It is also great because we can see the names and photos of our regular customers on our iPad as soon as they walk through the door and it's like they each have their own VIP bar tabs."

Jason Duncan, the owner of Cafe Evoke in Oklahoma City, OK, said, "We're planning to use the money to expand our catering service and bring the best coffee, wine and beer to even more customers."

Over three million individuals and businesses are able to accept credit card payments in a seamless way with Square. Sellers pay a low rate of 2.75 percent per swipe with no additional fees or commitments. Over 250,000 businesses in the U.S. accept Square Wallet payments, enabling their customers to pay with their phone, browse menus and earn rewards.

About Square, Inc.Square is making commerce easy for everyone. Starting with a free credit card reader for the iPhone, iPad, and Android devices, The Square Reader allows anyone to accept credit cards anywhere, anytime. Square Register serves as a full point-of-sale system for businesses to accept payments, track inventory, and share menu and location information. Square Wallet, available in the US, is the most seamless way to pay, enabling individuals to pay at their favorite local businesses, discover new ones nearby, explore menu listings, and store receipts. Founded in 2009, and headquartered in San Francisco, Square is currently available in the U.S. and Canada. More information is available at squareup.com.